Internal Audit :Performing an Effective Quality Assessment (PEQA)

A hallmark of a quality internal audit function is the ability to keep pace in a dynamic environment. Consistently monitoring the quality of the internal audit function provides audit leaders, the board, and other key stakeholders with the assurance that internal audit is performing at its highest level — providing value throughout an evolving organisation.

An independent assessment of the value of the internal audit function is delivered through an external quality assessment. All CAEs are required to develop a QAIP that includes both internal and external assessments. Internal assessments include both ongoing monitoring and periodic self-assessment. External assessments may be either a full external assessment or a self-assessment with independent validation.

This course will provide you with the appropriate knowledge and skills to plan, perform, and evaluate the results of an external quality assessment case study. You will also learn about the process and templates in The IIA’s Quality Assessment (QA) Manual so that you can identify opportunities to improve your internal audit function’s quality activities.

Please note: The QA Manual is not included in the course fee and must be procured separately via www.theiia.org

Who Should Attend?

Level 2 — Internal auditors who are already practicing internal audit and have a basic understanding of the subject.

Level 3 — Supervisory/competent/senior internal auditors who already have a sound, practical grasp of the fundamentals of internal auditing and manage staff.

Level 4 — Advanced internal auditors with an excellent understanding of the topics presented, who are interested in exchanging knowledge with instructors and other participants.

Please review the content and course levels before booking to ensure you are attending the right course.

Course Outline

Quality Assessment Manual and Process Overview

• Overview of the Global Internal Audit Standards, including standards referencing quality
• The IIA’s Framework for Quality Assessment for external and internal quality assessments
• Common quality assessment questions using The IIA’s IPPF resources
• Quality Assessment Manual process flow and tools
• The three types of internal audit quality assessment
• Quality Conclusion Model, Maturity Assessment, and Performance of the Internal Audit Function

Types of Quality Assessments

• Internal Quality Assessments — advantages and limitations
• External Quality Assessments — frequency, full assessment, validation
• Selecting external and internal assessors

Planning the Quality Assessment

• Implementing QA Manual planning tools
• Key features of planning guides and surveys
• Analysing survey results
• Practical Case Study

Performing the Quality Assessment

• Implementing QA Manual tools for internal and external assessments
• Key features of interview guides and QA programmes
• Analysing interview and QA programme results
• Practical Case Study

Evaluating QA Results

• Applying evaluation criteria to common QA scenarios requiring professional judgement
• Determining final ratings and evaluation results
• Key features of the QA evaluation framework and tools
• Developing value-added solutions for common QA issues and opportunities
• Practical Case Study

Periodic Internal Quality Assessment Approaches

• Developing an efficient and effective periodic internal assessment approach
• IPPF guidance on periodic internal QA
• Common periodic assessment challenges and solutions
• Factors needed for an efficient and effective periodic internal QA programme
• Practical Case Study

External Quality Assessment Options

• Determining the external QA option best suited to your internal audit activity
• Pros, cons, and considerations of external QA options
• Rationale for selecting the best external QA option
• Successful practices for preparing for an external assessment

Details

Fees:

Contact: Project Coordinator: CPD and Events neo@governanceacademy.co.za | 011 609 1761 Ext 403

Venue: Definitive Conferencing Corner of Definitive Lane & Kruin Street, Harmelia, Isando, Gauteng, 1619, South Africa